FTSE 100 Defensive Autocall - Issue 5

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1 FTSE 100 Defensive Autocall - Issue 5 Potential for maturity at the end of years 2, 3, 4, 5 or 6 with a fixed payment equal to 9% per year of the investment. Risk to capital If the FTSE 100 falls by more than 50% at any point during the term, and finishes lower than 85% of the starting level, some or all of the initial investment will be lost. Key dates Offer Opens: 13 October 2014 Offer Ends: 12 December 2014 Strike Date: 22 December 2014 Final Maturity Date: 22 December 2020 Autocall Dates: 22 December December December December 2019 The aim is to increase the value of the investment after 6 years (the Term ), or earlier if the security Autocalls. The security (the Security ) is issued by Investec Bank plc (Investec). Securities are a type of debt issued by a bank. In effect money is being lent to the bank (Investec) for the duration of the investment. The Security is designed to generate returns linked to the FTSE 100. Overview The Security is designed to repay the initial investment and deliver a return if the FTSE 100 increases over the Term. If at the end of years 2, 3, 4, 5 or 6 the FTSE 100 is higher than a designated percentage of its starting level the Security will mature (Autocall) returning the investment with a fixed payment of: 9% per annum (not compounded) However, if the FTSE 100 falls by more than 50% from the starting level at any point during the Term and finishes lower than 85% of the starting level at the end of year 6, the initial investment will be reduced by 1% for every 1% fall in the FTSE 100 at the end of the Term. Please note this investment is only available via financial advisers to UK residents.

2 About Investec This factsheet has been prepared by Investec Structured Products which is a trading name of Investec Bank plc, which is part of the Investec group of companies. The Investec group is an international specialist bank and asset manager that provides a diverse range of financial products and services to a select client base in three principal markets, the United Kingdom, South Africa and Australia. The group was established in 1974 and currently has approximately 8,200 employees. Investec focuses on delivering distinctive profitable solutions for its clients in three core areas, namely Specialist Banking, Wealth & Investment and Asset Management. Investec sponsors English Test Cricket, the Investec Derby Festival, the England & GB Women s Hockey teams, the South African Women s Hockey team, the Investec Rugby Championship and Investec Super Rugby in New Zealand. Investec are also proud to support Investec Opera Holland Park and the National Gardens Scheme. What are the risks? - The initial investment is at risk. If the FTSE 100 falls by more than 50% during the Term and finishes lower than 85% of the starting level at the end of year 6, some or all of the investment will be lost. - If the investment is redeemed before the end of the Term, an amount less than that originally invested may be returned. - If Investec fails or becomes insolvent (i.e. goes bankrupt or similar), you could lose some or all of your money. - Inflation will reduce what can be bought in the future. - The tax treatment of the Security could change at any time. What are the charges? When this Security is held within a life fund, Investec will pay a one-off establishment charge of 1.5% to the life fund. This fee has been taken into account when setting the return. charges are taken away from the initial investment or any potential maturity payment. There are no annual management charges, so any returns are based on the full amount invested. 2

3 How does the Security work? The Initial Index Level is recorded on the Strike Date and is the closing level of the FTSE 100 on 22 December Initial Index Level Closing level of the FTSE 100 on 22 December 2014 Early Maturity (Autocall) If at the end of years 2, 3, 4 or 5 the Autocall Level is above the Initial Index Level the Security will mature early and pay a return of the initial investment plus 9% per annum (not compounded). The Autocall Levels are the average of the closing levels of the FTSE 100 on the relevant Autocall Date and the four previous days the FTSE 100 is published. The Autocall Dates are 22 December 2016, 22 December 2017, 24 December 2018 and 23 December The diagram below shows potential returns: End of Year 2 - Is the FTSE 100 Return of initial investment plus 18% End of Year 3 - Is the FTSE 100 Return of initial investment plus 27% End of Year 4 - Is the FTSE 100 Return of initial investment plus 36% End of Year 5 - Is the FTSE 100 Return of initial investment plus 45% End of Year 6 - Is the FTSE 100 higher than 85% of the starting level? Security matures. Return of initial investment plus 54% FTSE 100 DOES NOT fall by more than 50% during the Term: return of the initial investment with no growth. FTSE 100 DOES fall by more than 50% during the Term: return of the initial investment minus 1% for every 1% fall in the FTSE

4 Maturity after 6 years If the Security continues to the end of year 6, the level of the FTSE 100 is used to calculate the Final Index Level. The Final Index Level is recorded at the end of the Term and uses averaging as explained below: Final Index Level 16 December December 2020 Average of the closing levels of the FTSE 100 on each day the FTSE 100 is published between 2 December 2020 and 18 December 2020 inclusive The Observation Period is the closing level of the FTSE 100 on each day the FTSE 100 is published between 23 December 2014 and 22 December 2020, inclusive. Observation Period 23 December December If the Final Index Level is higher than 85% of the Initial Index Level, a return of the initial investment plus 54% is paid. - If the Final Index Level is equal to or lower than 85% of the Initial Index Level, the Security will return the initial investment but with no additional return as long as the closing level of the FTSE 100 has not fallen by more than 50% from the Initial Index Level during the Observation Period. - If the Final Index Level is equal to or lower than 85% of the Initial Index Level and the FTSE 100 has fallen by more than 50% from the Initial Index Level during the Observation Period, then the initial investment will be reduced by 1% for every 1% fall (including partial percentages) from the Initial Index Level. The table shows how returns would be affected. Please note the use of averaging can reduce adverse effects of a falling market or sudden market falls shortly before maturity. Equally, it can reduce the benefits of an increasing market or sudden market rises shortly before maturity. Example returns The table below shows examples of returns on the initial investment based upon an initial investment of 10,000 and if the Security runs the full 6 years. The exact return received will be dependent on the amount invested and FTSE 100 performance. FTSE 100 performance at maturity (compared to the starting level) FTSE 100 DOES NOT fall by more than 50% during the Term 75% higher 15,400 15,400 45% higher 15,400 15,400 25% higher 15,400 15,400 1% higher 15,400 15,400 change 15,400 15,400 1% lower 15,400 15,400 25% lower 10,000 7,500 45% lower 10,000 5,500 75% lower t possible* 2,500 FTSE 100 DOES fall by more than 50% during the Term *The FTSE 100 being 75% lower at maturity means that it would have fallen by more than 50% during the Term, therefore this scenario is not possible Please note that the purpose of the table is to show the impact of certain changes in the FTSE 100. It does not show the likelihood of these changes actually happening. The return is not linked directly to the FTSE 100 therefore, regardless of how high the FTSE 100 rises, the maximum return for this investment will be as shown above. 4

5 Glossary Autocall Dates means 22 December 2016, 22 December 2017, 24 December 2018 and 23 December Autocall Levels for each year means the average of the closing levels of the FTSE 100 for the 5 days on which the FTSE 100 is published up to and including the relevant Autocall Date. Calculation Agent means Investec Bank plc acting as calculation agent. Final Index Level means the average of the closing levels of the FTSE 100 on each day on which the FTSE 100 is published between 16 December 2020 and 22 December 2020 inclusive. Final Maturity Date means 22 December FTSE 100 means the FTSE 100 Index. This product is not in any way sponsored, endorsed, sold or promoted by FTSE International Limited. Index Sponsor means FTSE International Limited, a UK incorporated company which calculates the FTSE 100 and which is jointly owned by the London Stock Exchange and the Financial Times. Initial Index Level means the closing level of the FTSE 100 on the Strike Date. Investec means Investec Bank plc. Observation Period means 23 December 2014 to 22 December 2020, both days inclusive. Securities means the excluded indexed securities issued by Investec Bank plc, the redemption amount of which will reflect the percentage change (if any) over the Securities redemption period in the value of chargeable assets of a particular description. Strike Date means 22 December Important Information The information contained in this document is not for release, publication or distribution in or into the United States, Australia, Canada, the Republic of Ireland, Japan, South Africa or any other jurisdiction where it is unlawful to distribute this document. The information contained in this document does not constitute an offer of securities for sale in the United States, nor may the Security be sold in the United States. For further information on how the Security works please see the Final Terms and Base Prospectus. A copy of the approved Base Prospectus dated 13 August 2014, supplements to the Base Prospectus and Final Terms in relation to the Security can be obtained upon request from Investec Structured Products, 2 Gresham Street, London EC2V 7QP or visit The information in this factsheet does not constitute tax, legal or investment advice from Investec. You should think carefully about the features and risks of this investment and whether it suits the personal circumstances and attitude to risk before deciding whether to invest. You should seek advice from a financial adviser in your jurisdiction before deciding to invest. Investec does not offer advice or make any investment recommendations regarding this investment. If the Security is held in a life fund investors in such life fund and/or related portfolio bond should be aware that Investec Bank plc is not responsible for and has no liability in respect of any such life fund or any related portfolio bonds, including any matters relating to the sale and distribution thereof. An investment in a life fund or portfolio bond is not an investment in the Security and, accordingly, investors in such life fund or portfolio bonds will have no contract with and will have no recourse to Investec Bank plc or any of its affiliates. Disclaimers The Security is not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ( FTSE ) or by the London Stock Exchange Plc ( LSE ) or by The Financial Times Limited ( FT ) and neither FTSE nor the LSE nor FT makes any warranty or representation whatsoever, expressly or impliedly either as to the results to be obtained from the use of the FTSE 100 Index (the Index ) and/or the figure at which the Index stands at any particular time on any particular day or otherwise. The Index is compiled and calculated solely by FTSE. However, neither FTSE nor the LSE nor FT shall be liable (whether in negligence or otherwise) to any person for any error in the Index and neither FTSE nor the LSE nor FT shall be under any obligation to advise any person of any error therein. FTSE, FT-SE and Footsie are trademarks of the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE under licence. Registered and incorporated in England Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered under Financial Services Register reference